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APRA’s draft Prudential Standard, CPS 230 Operational Risk Management, has implications for data management service providers

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Legal update, APRA's draft CPS 230 Operational Risk Management: Implications for data protection obligations. This update provides an overview of the Australian Prudential Regulation Authority's (APRA's) draft Prudential Standard, CPS 230 Operational Risk Management, and its potential implications for data protection obligations for APRA-regulated entities, especially in regard to the use of third or fourth party data storage or data processing service providers. The update also provides information regarding the projected timeline for the finalisation and implementation of CPS 230.

By Practical Law Commercial Team

Practical Law Australia’s expert legal writers have practical expertise gained from some of the country's leading law firms and corporate legal departments, including Ashurst, Baker & McKenzie, Gilbert + Tobin, Herbert Smith Freehills, the Australian Broadcasting Corporation (ABC) and more. They understand the pressure to deliver timely and cost effective legal advice, which is why Practical Law’s fully maintained practice notes, precedents, drafting notes and checklists offer clear and concise know-how with a practical perspective.

For more information on Practical Law Australia’s legal writing team, visit legal.thomsonreuters.com.au/practical-law-team

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